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The New Daily
The New Daily
Business
Matthew Elmas

Government acts on bank compensation scheme, but critics say it falls ‘far short’

Assistant treasurer Stephen Jones is moving ahead with a bank compensation scheme for ripped-off customers. Photo: TND

The Albanese government has introduced legislation that will force banks to fund a compensation scheme for ripped-off customers.

Assistant Treasurer Stephen Jones tabled the Financial Sector Reform Bill 2022 on Thursday; it will enact royal commission recommendations that were promised but not delivered by the Morrison government.

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